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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating Activities      
Net income [1] $ 606 $ 1,619 $ 27
Adjusted for the following items:      
Earnings from investments in associates, net of distributions received 23 29 0
Depreciation and amortization expense 365 211 236
Mark-to-market and other 73 (2) (77)
Remeasurement of exchangeable and class B shares (34) (1,058) 447
Deferred income tax expense (recovery) 20 (79) 171
Changes in non-cash working capital, net 6 173 35
Cash from operating activities 1,059 893 839
Investing Activities      
Acquisition of subsidiaries, net of cash acquired (3,086) 0 0
Disposal of subsidiaries, net of cash disposed 0 0 817
Investment in associates 0 (455) 0
Disposal of investments in associates 435 0 0
Purchase of long-lived assets (594) (525) (417)
Disposal of long-lived assets 75 4 2
Purchase of financial assets (57) (71) 0
Sale of financial assets 53 0 0
Settlement of foreign exchange and other hedging items 0 0 (76)
Cash (used by) from investing activities (3,174) (1,047) 326
Financing Activities      
Exchangeable shares issued, net of costs 0 0 128
Distributions to non-controlling interests (458) (448) (425)
Acquisition of partial interest from non-controlling interest 0 0 (283)
Capital provided by non-controlling interest 2,911 0 0
Proceeds from non-recourse borrowings 1,313 2,143 377
Repayment of non-recourse borrowings (1,136) (1,060) (211)
Loans and repayments from Brookfield Infrastructure 1,057 605 15
Loans and repayments to Brookfield Infrastructure (1,472) (138) (469)
Other financing activities (32) 0 0
Settlement of deferred consideration 0 (1,106) 0
Cash from (used by) financing activities 2,183 (4) (868)
Cash and cash equivalents      
Change during the year 68 (158) 297
Impact of foreign exchange on cash 26 134 (20)
Balance, beginning of year 445 469 192
Balance, end of year $ 539 $ 445 $ 469
[1]
Earnings per share have not been presented in the financial statements, as the underlying shares do not constitute “ordinary shares” under IAS 33, Earnings per share. See Note 3(b), Material Accounting Policy Information, for further details.